OREANDA-NEWS. January 21, 2008. OMZ (OMZ) held an extraordinary general shareholders’ meeting (EGM) on January 18, 2008, the company's press service reported. The EGM terminated early the powers of the Board of Directors and elected the following members to the new Board of Directors:

1. Dmitry Bakatin - Consultant, Moscow Representative Office, “Sputnik Investment Ltd.”

2. Evgeny Borisov - Advisor to the Chairman of the Management Board, OAO “Gazprombank”

3. Valery Chernyshev - CEO, OAO OMZ (Uralmash-Izhora Group)

4. Sergey Grischenko - Executive Director, Corporate Finance Department, OAO “Gazprombank”

5. Farid Kantzerov - Deputy Chairman of the Management Board, OAO “Gazprombank”

6. Alexey Matveev - Deputy Chairman of the Management Board, OAO “Gazprombank”

7. Seppo Remes - Senior Advisor and member of the Board, ZAO “FIM” Investment Bank, Russia.

8. Sergey Skaterschikov – Vice-president for strategy and development, OAO MTS

9. Vladimir Yurkov - General Director, ZAO “Forpost-Management”

In addition, the EGM approved changes to the following founding and internal documents:

a) the Company Charter;

b) the Bylaw on the Management Board of OMZ;

c) the Bylaw on the Board of Directors of OMZ;

d) the Bylaw on the Revision Commission of OMZ.

The changes to the Charter and the Bylaws were introduced to ensure compliance with the requirements of the Russian Federal Service on Financial Markets and the Russian Law on Joint Stock Companies.